Negative Equity And A Big Idea
Do you like to watch sports on TV?
Isn’t it amazing how much money the “jocks” who play sports generate in terms of revenue and as a result get paid to just be a jock?
What if I told you that the real jocks in the world who generate the real revenue and make the realmoney weren’t named Kobe, Tiger, Lebron or LaDanian?
The real jocks who are responsible for generating trillions of dollars are the Quant Jocks.
Quant as in Quantitative. As in numbers. As in the smartest-guys-in-the-room-who-wear-glasses-and-part-their-hair-on-the-side who are hired to come up with the financial models that the big banks base their entire business around.
These Quant Jocks are the guys who came up with those wonderful things called CDO’s (mortgage speak for Collateralized Debt Obligation), CDS’s (Credit Default Swaps, more mortgage speak) and a handful of other three lettered acronyms that have given the country a severe case of the financial hiccups these last few years.
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